Section 67L: Expenditure incurred by manufacturing companies
This section is inserted by Finance Act 2021, section 38.
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
67L. Expenditure incurred by manufacturing companies
on products manufactured locally by small enterprises
Where a manufacturing company whose annual
turnover exceeds 100 million rupees in an income year
incurs any expenditure on the direct purchase of products
manufactured locally by small and medium enterprises
whose turnover does not exceed 50 million rupees, it shall
be allowed, in that income year, an additional deduction of
10 per cent of the amount of expenditure so incurred.